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Britishpound

GBP/USD: Test the support againThe British Pound is now close to its support vs the US dollar FX:GBPUSD The British pound does not appear to be recovering against the US dollar and appears to be expecting another round of declines of a few days. Alternatively, an upside break of the 1.3845 resistance line will confirm the bullish chart pattern with an initial rise targeting late June’s top of the 1.4000 thresholds. Any further downside will be tested by the stated bullish formation’s support line, around 1.3730. During the fall, June’s low around 1.3785 may act as an intermediate halt. Economic Calendar (GMT Time) UK: Composite PMI: 8:30 am This report measures the activity level of purchasing managers in both sectors. A reading above 50 indicates expansion in the sector; a reading below 50 indicates contraction. A higher than expected reading should be taken as positive/bullish for the GBP, while a lower than expected reading should be taken as negative/bearish for the GBP. UK: Services PMI: 8:30 am The report measures the activity level of purchasing managers in the services sector. A reading above 50 indicates expansion in the sector; a reading below 50 indicates contraction. Traders watch these surveys closely as purchasing managers usually have early access to data about their company’s performance, which can be a leading indicator of overall economic performance. A higher than expected reading should be taken as positive/bullish for the GBP, while a lower than expected reading should be taken as negative/bearish for the GBP. EU: ECB President Lagarde Speaks 9:00 am As head of the ECB, which sets short-term interest rates, she has a major influence over the value of the euro. EU: ECB President Lagarde Speaks 11 am
by JohnGoldman1
GBPUSD, Developments In Channel, Wave To The Upside Incoming!Hello Traders Investors And Community, Welcome to this analysis about GBPUSD, we are looking at the 12-hour timeframe perspectives. GBPUSD in the last times is showing increased volatility within the structure between 1.37 and 1.425 level and as I discovered now is forming some quite interesting developments in the structure that can lead to an upside breakout to the up or downside sooner or later before that however the consolidation structure is firstly likely to move on till this final breakout can emerge. Therefore I detected the structural developments, the meaningful zones, and what we can expect. Structural Developments: As when looking at my chart we can watch there how GBPUSD has formed this main ascending-channel-formation within the structure. Besides that GBPUSD has the coherent wave-count within the channel with the waves A to D already completed and recently the wave D moving into the lower boundary of the channel again in which GBPUSD has still some solid supports lying together with the 260-EMA in red as well as 200-EMA in green. GBPUSD already bounced within this lower-boundary structure and showed some good volumes that can be the origin for further continuation and the wave E to form ahead in coming times. Upcoming Determinations: Taking all these factors into consideration GBPUSD is likely to continue with the wave E development the next time. This wave E will move on to test the upper ranges and especially the upper target zone which is also a dynamic distribution zone. The crucial part then will come with GBPUSD either staying in this upper range level or firstly pulling back, both directions can convert into an upside or downside breakout and for now, it is necessary to keep patient and elevate how GBPUSD approach this upper-boundary target zone to continue after that before rushing into final conclusions, it will be an interesting development ahead. In this manner, thank you everybody for watching, support the idea with a like and follow or comment, have a good day, and all the best! "Trading effectively is about assessing possibilities, not certainties." Information provided is only educational and should not be used to take action in the markets.
by VincePrince
7
💡Don't miss the great sell opportunity in GBPUSD Trading suggestion: ". There is still a possibility of temporary retracement to the suggested resistance line (1.4205). if so, traders can set orders based on Price Action and expect to reach short-term targets." Technical analysis: . GBPUSD is in a range bound, and the beginning of a downtrend is expected. . The price is above the 21-Day WEMA, which acts as a dynamic support. . The RSI is at 34 Take Profits: Tp1= @1.41350 TP2= @1.40950 TP3= @1.40050 SL: Break Above R2 ❤️ If you find this helpful and want more FREE forecasts in TradingView . . . . . Please show your support back, . . . . . . . . Hit the 👍 LIKE button, . . . . . . . . . . . Drop some feedback below in the comment! ❤️ Your Support is very much 🙏 appreciated! ❤️ 💎 Want us to help you become a better Forex / Crypto trader ? Now, It's your turn ! Be sure to leave a comment; let us know how you see this opportunity and forecast. Trade well, ❤️ ForecastCity English Support Team ❤️
Short
by ForecastCity_World
10
💡Don't miss the great sell opportunity in GBPUSD Trading suggestion: ". There is still a possibility of temporary retracement to the suggested resistance line (1.4205). if so, traders can set orders based on Price Action and expect to reach short-term targets." Technical analysis: . GBPUSD is in a range bound, and the beginning of a downtrend is expected. . The price is above the 21-Day WEMA, which acts as a dynamic support. . The RSI is at 34 Take Profits: Tp1= @1.41350 TP2= @1.40950 TP3= @1.40050 SL: Break Above R2 ❤️ If you find this helpful and want more FREE forecasts in TradingView . . . . . Please show your support back, . . . . . . . . Hit the 👍 LIKE button, . . . . . . . . . . . Drop some feedback below in the comment! ❤️ Your Support is very much 🙏 appreciated! ❤️ 💎 Want us to help you become a better Forex / Crypto trader ? Now, It's your turn ! Be sure to leave a comment; let us know how you see this opportunity and forecast. Trade well, ❤️ ForecastCity English Support Team ❤️
Short
by ForecastCity_World
💡Don't miss the great sell opportunity in GBPUSD Trading suggestion: ". There is still a possibility of temporary retracement to the suggested resistance line (1.4205). if so, traders can set orders based on Price Action and expect to reach short-term targets." Technical analysis: . GBPUSD is in a range bound, and the beginning of a downtrend is expected. . The price is above the 21-Day WEMA, which acts as a dynamic support. . The RSI is at 34 Take Profits: Tp1= @1.41350 TP2= @1.40950 TP3= @1.40050 SL: Break Above R2 ❤️ If you find this helpful and want more FREE forecasts in TradingView . . . . . Please show your support back, . . . . . . . . Hit the 👍 LIKE button, . . . . . . . . . . . Drop some feedback below in the comment! ❤️ Your Support is very much 🙏 appreciated! ❤️ 💎 Want us to help you become a better Forex / Crypto trader ? Now, It's your turn ! Be sure to leave a comment; let us know how you see this opportunity and forecast. Trade well, ❤️ ForecastCity English Support Team ❤️
Short
by ForecastCity
2
GJ- GBP / JPY ANALYSISGBP / JPY- GREAT BRITISH POUND VS. JAPANESE YEN- DAILY TIME FRAME CHART ANALYSIS + KEY WEEKLY & DAILY CHART MARKET LEVELS ✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬ #1. D1-DTFC MARKET TREND ✬- MARKET TREND / MARKET BIAS- THE DAILY TIME FRAME CHART MARKET TREND / MARKET BIAS-✬ MARKET TREND / MARKET BIAS- The Overall Daily Time Frame Chart Market Trend As Of Right Now Is BULLISH- The Market Is In A Bullish Trend The Market Has Been In An Uptrend Since The 19th Of March, 2020 It Has Been Constantly Rising And Making HH- HIGHER-HIGHS & HL- HIGHER-LOWS 1- The Market Then Suddenly Made An Explosive Move Upward Where It Came Into Contact With The Key Weekly Time Frame Chart Market Level Of Support At 131.780 2- The Market Then Continued Its Push Higher Upward Where It Broke Past The Key Weekly Time Frame Chart Market Level Of Resistance At 131.780 3- The Market Then Re-tested That Same Key Weekly Time Frame Chart Market Level Of Resistance... Which Has Now Turned To A Key Weekly Time Frame Chart Market Level Of Support At 131.780 4. The Market Then Continued The Push Higher Up Where To A Key Daily Time Frame Chart Market Level Of Resistance At 142.760... Where It Then Retraced Back Down Near To The Support Level At 131.780... Which Initiated A Push Higher Up Making HH- HIGHER HIGHS & HL- HIGHER-LOWS... 5. The Market Then Arrived At A Key Weekly Time Frame Chart Market Level Of Resistance At 142.760... Where It Clearly Broke Through The Key Major Resistance Level... And Ultimately Pushed Higher Up Throught The Key Daily Time Frame Chart Market Level Of Resistance... Where Price Hung Out / Consolidated At That Level For About 3 Days... Where It Then Pushed Price Higher Up To Break Past The Key Weekly Time Frame Chart Resistance Level At 148.440.... To Then Stop And Retrace A Bit Which Resulted In The Creation / Formation Of A PRICE ACTION MARKET TRADING SIGNAL / SETUP At The Key Daily Time Frame Chart Market Level Of Support At 148.440 6. The Market Then Reacted At That Level Which Ultimately Pushed Back Price Up Substantially... Where Price Then Arrived At A Key Daily Time Frame Chart Market Level Of Resistance... Then Retraced Back Down Near To The Same Key Daily Time Frame Chart Support Level At 148.440 7. The Market Then Pushed Up And Then Hung Around / Consolidated At That Key Daily Time Frame Chart Market Level Of Support At 150.796... For About 3 Days Before Ultimately Pushing Higher Up... 8. The Market Then Approached A Key Daily Time Frame Chart Market Level Of Resistance At 153.408... Where It Ultimately Began To Interact With That Same Key Daily Time Frame Chart Market Level Of Resistance... Where The Market Then Began To Move Higher Up 9. As You Can Clearly See From Looking At The Chart That The Market Clearly Encountered Some Resistance At A Support Level At 154.865. Price Then Retraced Back Down Near To A Key Support Level... Where As You Can See Price Then Pushed All The Way Up... Breaking Past The Key Daily Time Frame Chart Market Level Of Support At 154.865... Then All The Way Up To The Key Weekly Time Frame Chart Market Level Of Resistance... Where Price May Now Find Some Serious Resistance When Interacting With That Level... 10. As You Can Clearly See From Looking At The Chart That Price Is Now Looking To Interact With That Key Level... As Of Right Now... We Just Need To Wait And See What Will Happen / Occur... It Is At This Time Now That As A Price Action Trader... It Is Best To Just Sit On Your Hands And Wait To See What Will Be The Outcome... At That Area With The Question Mark... ✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬ #2. W & D1-TFC KEY MARKET LEVELS ✬- KEY WEEKLY & DAILY TIME FRAME CHART MARKET LEVELS OF SUPPORT AND RESISTANCE-✬ ANALYSIS OF THE WEEKLY TIME FRAME CHART & ANALYSIS OF THE DAILY TIME FRAME CHART THE WEEKLY TIME FRAME CHART MARKET LEVELS OF RESISTANCE & THE WEEKLY TIME FRAME CHART MARKET LEVELS OF SUPPORT- SHOWN ON CHART THE DAILY TIME FRAME CHART MARKET LEVELS OF RESISTANCE & THE DAILY TIME FRAME CHART MARKET LEVELS OF SUPPORT- SHOWN ON CHART THE KEY WEEKLY TIME FRAME CHART MARKET LEVELS OF SUPPORT AND RESISTANCE ARE: A Key Weekly Resistance Level At- 156.140 A Key Weekly Support Level At- 153.865 A Key Weekly Support Level At- 153.408 A Key Weekly Support Level At- 148.440 A Key Weekly Support Level At- 142.760 THE KEY DAILY TIME FRAME CHART MARKET LEVELS OF SUPPORT AND RESISTANCE ARE: A Key Daily Support Level At- 154.865 A Key Daily Support Level At- 153.408 A Key Daily Support Level At- 150.796 A Key Daily Support Level At- 146.385 ✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬ #3- PA MARKET TRADING SIGNALS / SETUPS As Of Right Now I Am Only Looking For PIN BAR PRICE ACTION MARKET TRADING SIGNALS / SETUPS That May Form / Develop At / From That Key Daily Time Frame Chart Market Level Of Support At 154.865 ✬✬✬✬✬BE ON THE LOOKOUT FOR THE FORMATION / CREATION OF PRICE ACTION MARKET TRADING SIGNALS / SETUPS THAT MAY FORM AT Or FROM THAT KEY DAILY TIME FRAME CHART MARKET LEVEL OF SUPPORT✬✬✬✬✬ ✬✬✬✬✬Smart Thing To Do Now Is Just To Wait For A RETRACE Back To A Key Level Or The FORMATION / CREATION Of A PAM-S/S- PRICE ACTION MARKET TRADING SIGNAL / SETUP To Form✬✬✬✬✬ ✬✬✬✬✬AS THE WEEK PROGRESSES THE MARKET IS SUBJECTED TO CHANGE THROUGH PRICE ACTION MARKET MOVEMENTS...SO BE ON THE LOOKOUT AND STAY ALERT✬✬✬✬✬ ✬✬✬✬✬A PRICE ACTION MARKET TRADING SIGNAL Has Formed From Last Friday's Movement Upward... But That Would Be A Counter-Trend Trade... I Would Prefer To Wait For The FORMATION / CREATION Of A PRICE ACTION MARKET TRADING SIGNAL / SETUP To Form In-Line With The Trend Or From A Key Market Chart Level✬✬✬✬✬ ✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬✬
by DMAFXTRAD
GBP/JPY - Pound Bullish on BoE Rate Hike Expectations Fundamentals Key Points: 1. Markets are expecting UK Inflation to overshoot the central banks' 2% target and reach 3.35% in the coming years. 2. UK 10 Year Bond yields have been rising as a result of high inflation expectations. 3. Against countries like Japan, Switzerland & Germany the UK 10 Year Government Bond Yield is more attractive for investors causing money to move into the UK from these countries and the pound has been getting stronger against all three currencies as a result of the UK's Bond Yield rising. 4. The Bank of England said on May 27th that if people are moved off furlough back into work at a faster pace than previously expected, The Bank of England may be forced to withdraw some of its monetary stimulus and potentially raise interest rates as inflation will rise as the demand for goods and services rise from employment and the re-opening of the economy. 5. High levels of employment will boost price pressures at a time when inflation is already expected to be high from supply shortages caused by the pandemic. 6. This scenario means the central bank will be forced to act and withdraw its monetary support to curb inflation by reducing its bond-buying program, causing the price of bonds to decline and pushing up the Yield due to their inverse correlation. 7. A rate hike would also cause UK short-term rates to move into a profitable carry trade against currencies like the Japanese Yen & CHF & EUR. What To Watch Employment Data Rate Hike Expectations UK Bond Yield’s Trade Idea’s EUR/GBP - SELL GBP/JPY - BUY GBP/CHF - BUY Technicals GBP/JPY - Key Resistance ¥160.00 GBP/CHF - Key Resistance 131.000 EUR/GBP - Key Support €183.500 

 ATR Volatility GBP/JPY - 4.76% GBP/CHF - 4.06% EUR/GBP - 3.72%
Long
by KayansMarkets